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House prices in the UK edged up by 0.6 per cent in February but the increase
may only be fleeting as first-time buyers try to beat stamp duty, according
to Nationwide.

The building society said its latest House Price Index for February showed
that values had picked up slightly from January to take the average price of
a British home to £162,712.

Prices are now 0.9 per cent higher than in February last year. Nationwide said
activity had also increased with house sales rising by 23 per cent
year-on-year in January and UK mortgage approvals — a leading indicator of
sales